US EditionBest Buy reports modest sales recovery, but says tariffs are complicating its turnaround
Best Buy's quarterly revenue rose to $9.44 billion, driven by gaming and computer sales, despite tariff concerns and cautious consumer spending on pricier items.
- On Thursday, Best Buy Co. Inc. reported quarterly results that beat Wall Street analysts' estimates for the quarter that ended August 2, with revenue of $9.44 billion surpassing the expected $9.24 billion.
- Demand for gaming and computers drove Best Buy's comparable sales increase, while the company launched a third-party marketplace earlier this month to broaden selection and allow sellers to list brands.
- Financial metrics reveal Best Buy Co. Inc. posted adjusted earnings per share of $1.28 and revenue of $9.44 billion, with comparable sales up 1.6% and domestic online revenue of $2.86 billion rising 5.1%.
- Best Buy reaffirmed fiscal 2026 revenue range $41.10 billion to $41.90 billion and adjusted EPS guidance $6.15 to $6.30 due to tariff uncertainty, while BBY shares rose 2.51% to $77.34 Thursday premarket.
- Net income fell to $186 million and 87 cents per share, and Best Buy Co. Inc. expects Q3 comparable sales and adjusted operating income rate to be similar to Q2, trending toward the higher end of its sales range, CFO Matt Bilunas said Thursday.
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Why Best Buy Stock Tumbled on Thursday
Key PointsA double beat on analyst estimates didn't compensate for tariff uncertainty.On a brighter note, the retailer managed to grow its revenue and post the highest "comps" in years.10 stocks we like better than Best Buy › It's safe to say many investors felt that Best Buy (NYSE: BBY) stock wasn't an especially good buy on Thursday. Although the company posted second quarter of fiscal 2026 results that topped analyst estimates, it signaled th…
Associated Press News
A solid quarter at Best Buy overshadowed by outlook grown cloudy with tariffs
Best Buy posted a solid second quarter that exceeded Wall Street expectations, but the performances was overshadowed by an outlook that has grown cloudy due to tariffs the U.S. is imposing on trading partners.
Best Buy beats quarterly estimates on stable demand for gadgets
Best Buy topped Wall Street estimates for second-quarter sales and profit on Thursday, driven by strong online sales and a surge in demand for artificial intelligence-powered computers, mobile phones and other devices.
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